KÜRESEL SALGINLARIN SİGORTA ŞİRKETLERİNİN HİSSE GETİRİLERİNE ETKİSİ: TÜRKİYE VE G7 ÜLKE BORSALARI ÜZERİNE BİR OLAY ÇALIŞMASI

Year 2021, Volume: 39 Issue: Covid 19 Özel Sayısı, 173 - 193, 30.11.2021

Cengiz Toraman Nevzat Tetik Ersin Kanat

https://doi.org/10.17065/huniibf.870588

Abstract

Küreselleşme ve iletişim ağlarının gelişmesiyle dünyanın herhangi bir yerinde olan bir olay birçok bölgeyi etkileyebilmektedir. Bu durum hastalıklar için de geçerlidir. Dünya tarihi incelendiği zaman, dünyayı etkisi altına alan çeşitli salgınların meydana geldiği görülmektedir. Ancak, günümüzde hastalıkların ve bu hastalıklarla ilgili bilgilerin yayılımı geçmişe nazaran daha hızlı gerçekleşmektedir. Bu sebeple, salgınların ekonomik, sosyolojik ve psikolojik etkileri daha fazla hissedilmektedir. Bu çalışmada salgınların hisse senedi getirileri üzerine etkileri araştırılmaktadır. Çalışmanın amacı, 2000 yılından sonra kendini küresel çapta hissettiren önemli hastalıkların, Türkiye ve G7 ülke borsalarında bulunan sigorta şirketlerine ait hisse senedi getirilerine etkilerini ortaya koymaktır. Araştırmada, olay çalışması yöntemi kullanılmaktadır. Seçilen olaylar DSÖ tarafından salgınlarla ilgili olarak yapılmış ilan ve duyuruları kapsamaktadır. Çalışmada elde edilen sonuçlardan bazı ülke piyasalarının diğerlerine göre çoğu salgın hastalığa karşı daha duyarlı olduğu anlaşılmaktadır. Ülke borsalarının genel olarak COVID-19 salgını dışında kalan diğer salgınlardaki etkileri çok daha kısa süreli gerçekleşmiştir. Piyasaların diğer salgınlarda daha hızlı bir şekilde normale döndüğü görülmektedir.

Keywords

Hisse Senedi Getirisi, Olay Çalışması, Borsa, Küresel Salgın, Pandemi

EFFECTS OF GLOBAL OUTBREAKS ON INSURANCE COMPANİES' STOCKS: AN EVENT STUDY ON STOCK MARKETS OF TURKEY AND G7 COUNTRİES

Abstract

An event occurring anywhere in the world can affect many regions with the development of globalization and communication networks. This case is also true for diseases. When the history of the world is examined, it is seen that various global outbreaks have occurred that have affected the world. However, today the spread of diseases and information about these diseases is happening faster than in the past. For this reason, the economic, sociological and psychological effects of the epidemics are felt more. In this study, the effects of global outbreaks on stock returns are investigated. The aim of the study is to show the effects of significant diseases, which occurred globally after 2000, on the stock returns of insurance companies located on the Turkish and G7 country exchanges. Event study method is used in the research. Selected events consist of global outbreak announcements and notices made by World Health Organization (WHO). It is understood from the results of the study that some country markets are more susceptible to most epidemics than others. In general, the effects of other global outbreaks outside the COVID-19 have lasted much shorter on the countries' stock exchanges. Markets appear to normalize more rapidly during other epidemics.

Keywords

Stock Return, Event Study, Stock Exchange, Global Outbreak, Pandemic

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